The firm is one of a number of new entrants into low-cost financial services that rely on automated systems to help individuals with their financial planning.

The online broker TradeKing Group has launched a new financial-advisory service that it says will help customers who've had a hard time meeting their financial goals. "We've been in the self-directed trading space for a long time, and we've seen a lot of people attain great success there," says Rich Hagen, CEO of the new unit, TradeKing Advisors. "At the same time, we see a group of folks who struggle. We feel we could do a better job helping those people who may lack time and expertise."